Section 10.04. Power Of Regulation Reserved.
Subject to any applicable law, the council may by ordinance reasonably regulate and control the exercise of any franchise, including the fair and reasonable rates, fares or prices to be charged by the grantee. No franchise value shall be included in the valuation of the grantee's property in regulating utility rates, fares, or prices under any applicable law, ordinance, or regulation or in proceedings for municipal acquisition of the grantee's property by purchase or eminent domain.